Probit Launches NUVO Token Trading Competition Following Listing of NUVO Token
As announced in the Company's press release issued on Friday, June 21, 2019, the NUVO token was listed yesterday on the Probit exchange, following a two-round IEO (initial exchange offering) in April and May. Today, a trading competition will begin for the NUVO token for pairs with the Tether (USDT) cryptocurrency and the South Korean won (KRW). The trading competition will be active until Thursday, July 4, 2019. The top ten traders with the highest trading volume during the competition will be awarded prizes from a pool of 1,000,000 NUVO tokens.
Vancouver, British Columbia--(Newsfile Corp. - June 25, 2019) - METAVERSE CAPITAL CORP. (CSE: FORK) (OTC Pink: GBCHF) ("FORK" or the "Company") is pleased to announce that the Probit exchange has launched a trading competition for the NUVO token, a crypto asset for which FORK administered sales initiatives in April and May. The NUVO token was officially listed on the Probit exchange yesterday, further to the Company's press release issued on Friday, June 21, 2019. More information about the trading competition can be found at this link: https://support.probit.com/hc/en-us/articles/360029844091-ProBit-Exchange-Trading-Competition-for-NUVO-NUVO-
The NUVO token is the proprietary token of the Nuvo blockchain network, which acts as a platform on which decentralized social communities and communication applications can operate. The Nuvo blockchain network was founded by UK-based technology firm Nuvo Cash Ltd. ("Nuvo Cash"), who commissioned FORK in December of 2018 to assist in the Nuvo blockchain network's development, as well as to administer sales for the NUVO token. Presently, three social communities are active on the Nuvo blockchain network; Jamaa (http://jamaa.com), GameKarma (http://gamekarma.gg), and HighMiles (http://highmiles.com).
The Probit exchange announced that a trading competition for the NUVO token will begin today, and will be active until Thursday, July 4, 2019. In the trading competition, traders will be incentivized with prizes from a pool of 1,000,000 NUVO to trade the NUVO token in pairs with the Tether (USDT) cryptocurrency, and South Korean won (KRW). The benefits of this heightened trading activity can include enhanced liquidity for NUVO, as well as improved spreads of orders in the order books. Prizes will be issued to the top ten traders based on the total volume of their trading activity in the duration of the trading competition. The prize structure for the NUVO trading competition is as follows:
|1st place: 225,000 NUVO||6th place: 75,000 NUVO|
|2nd place: 200,000 NUVO||7th place: 50,000 NUVO|
|3rd place: 175,000 NUVO||8th place: 25,000 NUVO|
|4th place: 125,000 NUVO||9th place: 15,000 NUVO|
|5th place: 100,000 NUVO||10th place: 10,000 NUVO|
Participants in the NUVO token trading competition on Probit must be registered users in good standing on the Probit exchange. Participants must also complete level 2 KYC ("know your client") screening, and stake a minimum of 500 PROB to participate in trading competitions. More information can be found on Probit's website at http://probit.com.
FORK President and CEO Shidan Gouran commented, "The crypto markets have been enjoying some rapid, consistent growth, and we are happy to be working with Nuvo Cash in bringing the NUVO token to market among these favourable conditions. Overall crypto market capitalization is now at more than USD $325 billion, which is what it was at the beginning of December of 2017, during crypto's first major upswing. Bitcoin also cleared USD $11,200 on Sunday, for the first time since early March of 20181. Now that the NUVO token is listed on the Probit exchange, we are very pleased that Probit has agreed to run a trading competition to kick-start trading activity on the markets. These are exciting times to be a trader in the crypto space, and we believe the NUVO token is destined to be an impactful crypto asset in today's matured and robust cryptocurrency marketplace."
On behalf of the Company:
Shidan Gouran, President and CEO
For more information please contact:
Metaverse Capital Corp. Investor Relations
About Metaverse Capital Corp.
With blockchain technology rapidly re-shaping the models of many companies, industries, and their business processes, Metaverse Capital Corp. ("FORK") places a focus on the common needs of early-stage blockchain adopters. Originally founded with a focus on crypto-mining, FORK has recently diversified its offerings by placing an emphasis on professional services such as developing and administering launches of tokens and digital assets. Adapting to changes in blockchain technology, FORK is also now utilizing its computing power to provide consensus services, such as the operation of masternodes, servicenodes, and witnesses which are alternative methods to cryptocurrency mining for generating and acquiring digital assets. Investors, through their investment in the Company, are provided with exposure to these tokens, cryptocurrencies and digital assets without the lengthy, and complicated process that interested investors must ordinarily undergo in order to gain exposure to these cryptocurrencies and digital assets.
The Company is listed on the Canadian Securities Exchange ("CSE") and its common shares trade under the ticker symbol "FORK". Additional information relating to the Company is available on SEDAR at www.sedar.com, the CSE at www.theCSE.com as well as on the Company's website at: www.metaverse.capital
Cautionary Note Regarding Forward-Looking Information
Forward-Looking Information: This news release includes certain statements that may be deemed "forward-looking statements". The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "would", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
1 Overall crypto market capitalization data, and Bitcoin price data sourced from http://coinmarketcap.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45854